Procrastination is an issue with which many Massachusetts residents struggle. The idea of putting off a task until a later time often seems appealing, but of course, serious issues could come about in certain situations if the task gets put off for too long. For instance, if individuals do not create their wills or address other estate planning needs soon enough, complications could arise.
Many people think that they should wait until they retire in order to create their estate plan. They may think that by this point in their lives they will have a solid idea of what goes into their estates and how they want to distribute assets and handle other related tasks. However, waiting this long could potentially result in a person’s mental health being called into question.
Numerous parties over the age of 65 are considered to have some sort of mental disorder. When the mental state of a person is questionable, there is a chance that any official documents created by this person could be considered invalid. This means that if an individual waits until retirement age to create a will and he or she is not considered to have the necessary mental capacity to make important decisions, the will could be deemed invalid.
Waiting too long to create a will is only one mistake that could impact estate planning. When hoping to create the most effective plan, Massachusetts residents may want to ensure that their wills are as mistake-free as possible. Enlisting the assistance of experienced attorneys when crafting plans could help individuals with such concerns.
Source: kiow.com, “Putting Together a Mistake Free Will”, AJ Taylor, July 2, 2017